One Mortgage
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Make Certain.
Get One Mortgage.
The only mortgage where your repayment will never change, with added flexibility if things do.†
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What is one mortgage
Interest rates can go up and down over the years. Avant Money’s One Mortgage offers you complete peace of mind, protecting you against the possibility that interest rates might rise.
With the One Mortgage your interest rate stays the same, so your repayment never changes.
With an Avant Money One Mortgage, think certainty WITH flexibility.
How is one mortgage different
How is One Mortgage different to other types of fixed rate mortgages?
With the One Mortgage, your interest rate stays the same for the full term of your mortgage. So, whether you take your mortgage over a term of 5 years or 30 years, if you choose the One Mortgage from Avant Money, you pay the same amount in the first month as you do in the last month (unless you avail of some of our flexible features below).
Shorter-term fixed-rate options are designed to provide a fixed rate for a set period (between 1 year and 10 years). At the end of each fixed-rate period, you can usually choose a new fixed rate for a further term or remain on a variable rate, depending on what’s available at that time and what you decide to do. In summary, this means that different interest rates will apply to your mortgage during its lifetime.
You can find the One Mortgage interest rates below, with shorter fixed-term rates available here.
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How is one mortgage different
Other great features of the Avant Money One Mortgage
Why choose One Mortgage
Certainty from an interest rate fixed for the full term
You can be sure that your monthly repayment won’t change over the life of the mortgage. If interest rates change, your repayments will be unaffected.
One Mortgage rates are slightly more expensive than other Avant Money fixed rate deals now available. So, if interest rates never rise during the term of your mortgage, you could pay more with the One Mortgage.
Flexibility with 10% overpayment allowance
You can overpay 10% of the balance each year, a benefit which could save you thousands of euro in interest payments.
Savings for example for repayment on One Mortgage. Customer takes a mortgage of €400,000 over 20 years, Interest rate is 3.95% and monthly repayment €2,413.
Customer makes a €35,000 overpayment at the start of year four and could choose to reduce their monthly repayment to €2,178 and continue to repay over the original 20-year term, saving €13,100. Or they could continue with same monthly instalment, reducing the term of the loan by 27 months and saving €30,500.
Fairness means a maximum 2% early redemption fee
If you pay off your mortgage early, you can be sure that the maximum early redemption fee won’t be any more than 2% of your remaining mortgage balance.
You could be liable to pay a redemption fee if you repay your mortgage in full, switch to new lender or product, or overpay more than 10% of the outstanding balance in any year.
This capped early redemption fee of 2% applies during the first 10 years of your mortgage. After that it reduces further, so you won't pay more than 1.5% of your remaining balance.
Early redemption fee can be waived or refunded for home movers
If you decide to move home, you may be eligible for a waiver or refund of your early redemption fee. This benefit is not usually available with fixed rate mortgages in Ireland (source: other lenders websites).
To qualify, you must take out a new mortgage with Avant Money for at least the same amount, term, and within 12 months of redeeming your original mortgage. Subject to credit approval on the new mortgage.
Rate Lock
With the One Mortgage, we’ll guarantee you the interest rate detailed in your Loan Letter of Offer for 3 months, even if we increase our rates in the meantime (subject to certain criteria and restrictions).
If you are issued a Loan Offer for One Mortgage you will have 3 months from the date of the Letter of Offer to draw down the mortgage at the rate detailed in your offer. Mortgages not drawn down within that 3-month window will be subject to the prevailing rate at that date.
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How much can I borrow?
Get an estimate of much you could borrow based on your income and outgoings.
One Mortgage Fixed Rates May 23
One Mortgage fixed rates
Your rate is based on the term of your mortgage and loan to value. Our specially selected mortgage brokers will be delighted to help determine if this product is right to you.
Rates are correct as at 4th September 2023 and are subject to change.
* The Loan-to-Value ratio is the amount you want to borrow as a percentage of the value of your home.
** APRC is the Annual Percentage Rate of Charge. This rate allows you to easily compare mortgages from different lenders. It considers all the costs involved over the term of the mortgage such as set-up charges and the interest rate. The lower the APRC, the lower your monthly repayments and cost over the full term of your mortgage. APRC figures are based on a €100,000 loan over the maximum term for each rate (i.e. 15, 20, 25 or 30 years depending on the mortgage term) and assume a valuation fee of €185 and security release fee of €40.
*** Illustrative monthly cost per €1,000 borrowed based on the maximum term for each rate (i.e. 15, 20, 25 or 30 years depending on the mortgage term).
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One Mortage Terms and Conditions
Terms and Conditions
† One Mortgage unique/only claim based on comparison against competitor mortgage products as advertised on their websites 1st September 2023. One Mortgage is designed to give a fixed rate for the full mortgage term (between 5 and 30 years), whereas competitor fixed rate mortgage products are designed to provide a fixed rate for a set number of years (between 1 and 10), following which they revert to a managed variable rate or a new fixed rate.
†† 10% overpayment allowance is based on the balance at the start of each year.
††† Customers who are issued with a Letter of Offer for a One Mortgage will be allowed 3 months from the date of the Letter of Offer to drawdown at the rate detailed in their Offer. If customers do not drawdown within that 3-month window, they will be subject to the prevailing rate at the date they drawdown.
If you receive a Loan Offer letter and make a change to your lending requirements, we may need to reassess your application and issue a new Letter of Offer. This would include a change of property or changes in your Loan to Value (LTV), loan amount or interest rate. In this scenario, you may not be able to avail of the rate quoted in your original Loan Offer letter.
Lending criteria and terms and conditions apply. The monthly repayment on a 20-year mortgage with Loan to Value (LTV) greater than 80% with variable borrowing rate of 3.95% on a mortgage of €100,000 is €603.35 for 240 months. Total amount repayable is €145,028.74. If interest rates increase by 1% an additional €53.85 would be payable per month. For this example, Annual Percentage Rate of Charge (APRC) of 4.0% applies and consists of variable borrowing rate of 3.95%, valuation fee of €185, and security release fee of €40. LTV is the amount borrowed as percentage of the value of your home. Information correct at 4th September 2023 and subject to change. You mortgage your home to secure the loan. Maximum loan is generally 3.5 times gross annual income (4.0 for purchasers ) and 80% of the property value (90% of the property value for purchasers). The cost of your monthly repayments may increase – if you do not keep up your repayments you may lose your home. Applications from residents of ROI over the age of 18 only, and subject to repayment capacity, financial status and property valuation. We require property and life insurance.
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